"Inspired to Invest" Podcast

How To Find The Best Real Estate Investments

• Serena Holmes • Episode 49

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How to find the best real estate investments!

Welcome back to "Inspired To Invest". This week Barbara Isabel is joining us from Los Angeles, California.

To watch this episode rather than listen, click here.

From law books to real estate looks, Barbara Isabel's story is one of tenacity and transformation. Hear how this ex-lawyer turned multifamily real estate maven conquered Los Angeles's market by using her legal prowess to navigate complex deals and foster indispensable connections. 

Barbara lays it all on the line, detailing the personal losses and professional gambles that shaped her journey toward independence and success in the cutthroat world of property investment.

Throughout this episode, Barbara doesn't just recount her triumphs; she imparts timeless wisdom for anyone with their sights set on their slice of the real estate pie. 

Whether you're dreaming of ditching the nine to five or simply seeking to enrich your investment portfolio, Barbara's insights into patience, strategic networking, and aligning passion with career will resonate deeply. 

Discover how she balances the grind of entrepreneurship with self-care and what financial freedom truly means to her as she forges ahead with plans for an ambitious development project. 

Join us and be inspired to invest not only in property but in your potential.

To connect with Barbara, go to @barbaraisabelre.

Thank you to Jordan McGregor from Property Cast for bringing us this month’s episodes of “Inspired To Invest? Learn more about this amazing program to help real estate investors underwrite properties. Go to https://propertycast.io?via=serena

“Inspired to Invest” is proud to support the Beyond Success Program, a not-for-profit financial literacy program for students, launched by More To Give & MAK Investments. Find out more at @more2give.ca & https://more2give.ca/beyond.

Join us again on Jun. 5 for our FIFTHIEST episode with a real estate investor sharing wisdom he has learned over four decades of investing in real estate.

Thank you for tuning into “Inspired To Invest”, hosted by @serenaholmesrealtor & remember, “when you invest in yourself, the sky's the limit!"

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To buy a copy of The Accidental Entrepreneur, go to https://www.linktr.ee/serenaholmesauthor and for a free copy go to https://serenaholmes.exprealty.com/ask/f813c4efdfaead4980a467b614d73604 

And, for everything related to real estate and real estate investing, please make sure you've subscribed to @serenaholmesrealtor on YouTube & other platforms. We also have a page dedicated to this podcast on Instagram and Facebook @inspiredtoinvestpodcast where we preview guests each week, highlight their episodes, top takeaways, tips, quotes and more.

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Speaker 1:

Welcome to the Inspired to Invest podcast, where we're sharing stories from real estate investors and how investing has changed their lives. Thank you to PropertyCastio for bringing you this month's episodes of Inspired to Invest. Hi everybody, welcome to the Inspired to Invest podcast. I have Barbara Isabel joining me from Los Angeles for today. She is one of the fastest multifamily I should say fastest growing multifamily real estate agents in Los Angeles, one of the top real estate cities in the entire world. She graduated from law school but actually left law to pursue financial freedom through income producing real estate assets, and she also just recently opened up her own real estate brokerage called Bar Piera Group, which is under Keller Williams.

Speaker 1:

So thank you so much for your time for being here today. How are you? I am good. How are you doing? Thank you so much for having me. I'm so good. Thank you, I appreciate you joining me and taking time out of your busy day. Now, obviously it sounds like you've done a lot in a short period of time, but maybe you can talk about you know what life looked like before real estate came into the picture. Like, obviously you've made a big shift from law over to real estate, so maybe you can talk about the decision making process behind that and where you are now.

Speaker 2:

It wasn't an easy process, you know. Especially I dedicated. We have a different system in Europe. So you have five years of undergrad. Then I passed the bar, I started practicing law. I moved to Chile because my mom was born there. So I just, you know, kind of wanted to experience the culture. So I went out there for a couple of years. Then my dad got realistic, I went back to Spain and I decided I wanted to do a master's degree. So that's when I moved to LA to do my degree. I never really thought about leaving law and I never really thought about living in LA, especially not full timetime.

Speaker 2:

Uh, you know, I just had the concept of, you know, this being like the American dream. You come here, you know, a year later you're driving a Bentley, you're living in a mansion, like you know, all these things that you see on TV, they seem so attainable, um, and then, when I was, while I was attending Pepperdine um law school here, um, my dad passed away. So I kind of felt that I needed to make up for the time that, uh, you know, the last few months leading up to that moment that I wasn't with him, yeah, um, so I kind of, like you know, started working in in law and uh, realized it was very corporate. Um, you know, there wasn't like much of an opportunity to grow the way I expected it to be. Yeah, so I I met somebody that was in real estate development and they were like, hey, your, your personality, like you know, you like learning, you like reading, like you should consider about doing something, you know, more people oriented not strictly in an office. And that's what I did.

Speaker 1:

Yeah. So what did that look like? Cause obviously you left your legal career, so moving into real estate like did that take off for you right away? Or like what was kind of your transition period?

Speaker 2:

So, first of all, I looked really young. This was seven years ago. I still look young, but I look really young. Everyone thought I was 12 or 13 years old. I had a strong accent, but I still do so with my accent and my look. They were like do you even know LA? Like you know, like, how old are you? Like, a lot of my clients would ask me that. So it was a little bit of a challenge. Um, again, I didn't have any family out here. I came by myself, left all my family and my siblings in Spain, yeah. So, um, yeah, it was definitely a challenge.

Speaker 2:

The first year and a half it was. It was bad. I went into you know what's called credit card debt, which is an amazing, amazing thing to go into and I think everybody should get a taste of it. Um, I went into credit card that, you know, just trying to, you know, take my career off the ground. I, you know, started cold calling, landed eventually, three very good phone calls. I converted those three phone calls into meetings and then I converted those three meetings into list things. Yeah, and I sold three of them. So you know that, right, there was, you know, almost $10 million in real estate and then eventually, you know, just referral business kept calling. You know, the second year was a little better and eventually I realized that people who buy and sell single family homes, they buy one every, you know, 5-10 years the very best case scenario. But stores buy properties, you know, 20-30 times a year.

Speaker 2:

Even the ones who are the smallest business are buying five properties a year yeah so I realized that there was, you know, another niche um that not many women were into either. You know, with my background, I felt very comfortable learning about zoning and speaking to the city and going to the housing department. Um eventually found two what I thought were good properties. Um presented them to two known developers in LA. They liked it, they bought them off of me and I kept selling them properties.

Speaker 1:

Wow.

Speaker 2:

So then how?

Speaker 1:

did you kind of look at that Right? So obviously you're kind of new to real estate, so how did you decide to start looking at something specifically in that area, in that asset class?

Speaker 2:

Because of the frequency that I was getting paid. I couldn't rely on getting paid two, three times a year. It was just not going to work. The cost of living and everything, everything. You know, I was born and raised in a very lucky way and I just kind of like wanted to keep that same lifestyle that I had before here, obviously way more expensive city, way more challenging. So, yeah, I would say, and again, I needed to make up for that time that I was in there when my dad passed away. So I had a lot of motivation to like go out there and, you know, make it, whatever that meant. You know, little did I know that I was going to end up, you know, falling in love with, with development and doing it myself, obviously.

Speaker 1:

Yeah, yeah. So would you say that that's primarily your focus right now? Is working with development companies and finding them opportunities, or, now that you have a brokerage, are you trying to be more multipurpose in terms of the clients that you're servicing?

Speaker 2:

year. I also have my like five or six multimillion dollar listings. So you know, just yesterday I signed a $50,000 per month lease representing the tenant. So you know, the commission on that is like 15,000, which is, you know, two and a half percent of the term of the lease, which is a year and a half. You know, before that I sold two apartments in Beverly Hills 2 million 1.3, another one for like two, three.

Speaker 2:

So you know, know, I just always get either word of mouth, some referral business, and this is off of a very short career because I really wasn't like a single family, you know multi-million dollar range for just almost two years, yeah. So you know, with the hundreds of thousands of realtors that you have out here, it wasn't really like, you know, a long career. But I guess my clients like me, they stay in touch, they felt that, were honest. At first, they knew I needed the money, which is something they liked. They were like, okay, she's hungry, she needs it, like yeah, you know that these realtors that have 50, 60 listings out there. It was a little different and I just kind of kept it very consistent. You know what I was doing and what I'm doing now and how I approach, my sales are is the same. It's always been the same, and you know I'm going to continue to do it the same way, whether I'm, you know, making 10,000 or 100,000.

Speaker 1:

Yeah, that makes sense. Now, when you look back at this last six, seven years, what would you say is something that you're most proud of, or you feel like is maybe your biggest success?

Speaker 2:

making it in LA in the sense of being able to, you know, have the lifestyle that. Of course, you know, we always want more and we always want what we don't have. But I have a pretty good lifestyle and, um, I just bought my first four units. Uh, I just closed on the purchase on November 15th, so that's, that's a pretty big, big accomplishment. It's a very expensive property only fourplexlex in hollywood yeah, yeah, no, I hear you.

Speaker 1:

Is it going to be a long-term, uh like long-term renters or short-term rentals?

Speaker 2:

no, long-term, long-term, yeah, I'm doing like it's four units. I rented three of them out already um, and it's uh, yeah, it's. You know it's a 30-year loan, so hopefully, you know, if I make an extra payment every year, even just by doing that, I can pay it off in like 17 years. So that's kind of like the hope and the goal. But, yeah, it's a pretty, you know, pretty expensive property, pretty sweet. You know that I was able to put that deal together, yeah, and I would say that's, that's something that I'm definitely very proud of.

Speaker 1:

Awesome. So I guess, in terms of things like obstacles, what would you say are some of the biggest challenges that you've faced and overcome?

Speaker 2:

Biggest obstacles tenants. When you are buying properties with tenants, or even sometimes when you're buying properties vacant and you get a squatters, their rights in California are significant. So the moment they, like, change the lock in the door is considered that they established the residence and you have to evict them. So that means a year and several thousands of dollars to get them out. So this that I would say that's one of the like the worst things about it. But you just need to know what to buy and deal with the tenants before you close. Yeah, no, that makes perfect sense.

Speaker 1:

Now, what would you say are some of the biggest lessons that you faced? And that could be like working as a realtor or on the investment side.

Speaker 2:

The biggest lessons? Um, buy with today's market expectation, do not buy with tomorrow's expectation. That's one. Uh, be patient. Uh, be consistent. If you don't know, ask the question, or go to the city or go to housing or make the phone call. Uh, we are not supposed to know. If you don't ask, or or you know somebody teaches you, there's no way you're going to know. So just be humble about the learning process and surround yourself with people who are better than you, or at least are doing. You know better things than what you're doing. That's really the only way to get to a better place.

Speaker 1:

Yeah, no, that makes perfect sense. Now what would you say is one of the craziest things that's happened to you as a realtor or investor so far? And if maybe there's nothing that comes to mind, maybe you've got a story from one of your clients.

Speaker 2:

Oh my gosh, so many stories. I mean I'm, you know, I'm pretty, pretty confident in my own way. So you know, I don't mind going to properties that are not in good areas, especially when we are talking about development properties that are not in good areas areas and I get a lot of squatters and I'm like you know, I go in the property and I get out, get out, and there was this one time that there was like a woman obviously a lot of them are in drugs, into drugs, which is obviously, you know, big problem everywhere in the world, but here's specially, and she just literally grabbed a baseball bat and I had to run down the street with my heels where she was chasing me and I was like oh dear, I'm glad you're okay.

Speaker 1:

Well and I know we're just going to take a really brief break for a word from our sponsors and we'll be right back. Inspired to Invest is proud to support the Beyond Success program. In today's complex world, it's absolutely crucial for our youth to learn how to take charge of their financial future. We believe that every young person deserves access to accurate, practical financial information. Designed to bridge the gap, the Beyond Success program leverages a comprehensive educational boot camp to equip young minds with essential financial literacy skills. At Beyond Success, it's not just about teaching financial literacy. It's also about fostering a foundation for a prosperous and empowered future. Join us Together, we can build a brighter financial future for the next generations. Join us Together, we can build a brighter financial future for the next generations.

Speaker 1:

Thanks again for following along with this episode of Inspired to Invest. In addition to real estate investing and running my own brand experience agency for 18 years, I also published a book called the Accidental Entrepreneur in October of 2021. This is my story and it chronicles how I turned tragedy into triumph to embrace my destiny in entrepreneurship. If you're interested in picking up a copy, you can find the link at serenahomesrealtorcom and you can also find my link tree with all of the retailers in the details below. Thanks again for your support.

Speaker 1:

Hey everybody, welcome back to the Inspired to Invest podcast. I've got Barbara Isabel here. She's one of the fastest growing multifamily real estate agents in Los Angeles and she's sharing about her experiences going from a legal career over into real estate as a realtor and now as a real estate investor. So obviously, just before the break we were talking about the craziest thing that's happened to you so far being chased out of a property or the baseball bat. So definitely pretty crazy. But when it comes to mentorship and advice, I know you mentioned that you've worked with different real estate developers and now even working as a realtor, but what would you say are some of the best advice that you've been given as you've grown your career?

Speaker 2:

Well, definitely you gotta be patient. This is a, you know, long-term play. You just gotta stay consistent and then and then, don't forget, you always have to have a goal, like you know, whatever your goal is, don't get distracted. Just always, you know, remember that there is a reason to like, wake up, and we should be grateful to you. Know, be alive and get to wake up and do what we love. Don't do something you don't love because it's not going to work. This and get to wake up and do what we love. Don't do something you don't love because it's not going to work. This is not going to work.

Speaker 1:

You have to really be passionate about what you do. I would say so, yeah. Now you mentioned before the break that you have just bought your first fourplex, so what would be next for you in terms of developing and scaling your real estate portfolio? Have you thought about where you'd like to take that?

Speaker 2:

Yeah, I would like to obviously, you know, double, triple my sales on the, you know sales side. And then I would like to do my first grand app development this year.

Speaker 1:

Yeah, yeah, and then for something like that, would you be more finding the property and then hiring the developer. Like how would you see that coming together?

Speaker 2:

Yeah, so I will be identifying the property, you know I will be. I will be putting the money up for the purchase. Then you know my, some of my, my clients, who you know I've done some deals with them before in the past. I've partnered with them in some deals. They will get the financing for the construction. I will help them from A to Z, like I currently do, you know, just to learn the process. I will help them to get the plans, the permits through, then build it, then stabilize the building and probably, you know, then refinance, pull the money back and just put it on cruise control.

Speaker 1:

So there you go Now in terms of financial freedom. You obviously talked about goal setting and, you know, growing your sales, but is there a particular financial freedom number that you have in mind that will make you feel like you know you are more financially free, whether that's number of doors, cashflow, annual earnings?

Speaker 2:

Well, I always I mean, I've always thought that I would like to have something I can manage like again, it's you know, me myself and I, you know doing this, doing this pretty much, you know, for for my financial freedom, and then, obviously, those to come after me and just just to live a good life. You know, I'm 31 years old right now, so I'm still, you know, kind of like like trying to figure out whether I want to stay in LA, like how long do I want to stay here? You know there are a lot of things to like about LA, but I'm not, like, married into anything. You know, I'm open to, yes, yes, financial freedom for me looks like, you know, no matter what I want to do, every month, I don't really have to worry about the money I have in the bank. That's what it looks like. So there is no number of doors, there is no amount. Um, I just know that the only way not the way, but the only way to really achieve wealth is through income producing real estate.

Speaker 1:

Unless you are on the top 1% that, you know, gets lucky and makes it yeah yeah, no, I'd agree completely Now in terms of how real estate has changed your life, can you talk a little bit about how that's shifted since you had your legal career?

Speaker 2:

Night and day.

Speaker 2:

As much as I love night and day, you know you go from having a boss and nine to five, or you know six, whatever your schedule is, and you know having to report to your clients, uh, to just you know pretty much deciding what to what you want to do with your day all day, every day. And it's a little bit more challenging, uh, because if you don't feel like it, you don't have to get out of it, but then you don't produce that day, yeah, so you know there is a downside to being your own boss. Um, at the same time, I kind of learned to embrace the process and I, you know, sometimes a couple months last year I wasn't really like going for it the way I did the other 10 months um, and you just have to, you know, remind that we're humans. You know, sometimes we feel good, sometimes, especially, you know, females we're very emotional. So we go through things in life, uh, or you know that that makes us feel different sometimes. So we just have to take it as it comes.

Speaker 2:

Yes, if you are consistent, 10 out of the 12 months a year, for me it's okay, you know. I mean, I'm not a 365 person. I have my days too.

Speaker 1:

Yeah, and I think you just have to have that balance right, like there's going to be times that you're go, go, go and you're working hard, but there's also something to be said for self-care and taking a step back and reflecting. And you know it has a lot to do with expansion and, you know, coming back and forth.

Speaker 2:

I think that I'm glad to say that I'm glad to to be doing what I'm doing and not trying to figure out how to get to Mars, like Elon Musk is that that requires seven days a week, 365. So I'm glad that you know I have the flexibility of of, you know, enjoying life the way I like it.

Speaker 1:

Yeah, yeah, no, that makes perfect sense. Now, obviously, the topic or the name of this podcast is Inspired to Invest, so I always like to ask people what their favorite inspiring or motivational quote is for them.

Speaker 2:

Their favorite quote. I mean, I don't know if I would necessarily call it a quote, but it's just kind of like what I live by in both work and my personal life and it has really helped me. Actually, I never heard this from anybody, this is just me and my life philosophy. I don't have any expectations with absolutely anything in my life. You know, when I make a phone call, when I, you know, speak to my boyfriend, how he's going to react, whether he's going to give me flowers or not give me flowers, where client is going to be in a good mood, in a bad mood, I don't have any expectations about anything.

Speaker 2:

I just do and take things as they come, because I feel that expectations to me have proven in the last few years especially the last, like you know, seven, eight years that I've been out of my, you know, my parents umbrella um has proven to be for me the worst enemy of progress. You know, when I expect for something to be this way or someone to respond a certain way to something I say or I do, and it doesn't happen and yes, you know I'm very emotional it really gets to me. So I feel that we, you know, just take a step back and just say things the way we feel them and just see how people respond. Try not to be so judgmental and you know, just listen.

Speaker 1:

I think that that's how. I live my life and my business, and I think that that's how I live my life and my business. And if you have no expectations, you can't be disappointed. Yeah, no, that's great. So is there anything in particular that you wanted to leave anyone that's watching or listening with?

Speaker 2:

Yeah, well if you want to achieve financial freedom meaning that you don't have to worry about getting that check every week or that check every two weeks the only way to do it is through income producing real estate, and there are a lot of programs when it comes to loans that can help you achieve that with a zero to three and a half percent down. We're talking about 40, 50 or 60,000 for single family homes, even in LA, so a lot of people don't know that. There's big misinformation about these different programs. So if you're thinking about buying something in LA city of LA, whether it's a single or any type of multifamily real estate, give me a call. I'm here, you know I can walk you through the process. I love what I do, I'm good at what I do and good luck to help Great.

Speaker 1:

What's the best way for people to reach you?

Speaker 2:

I would say through my Instagram, barbaraisabelre.

Speaker 1:

You have my email phone number, link tree and everything in there, yeah, perfect, and we'll include all that in the show notes below, of course. Thank you for your time being here today and for anyone that is tuning in, listening or watching. Thank you for your time. Of course, make sure that you have followed along at Inspire to Invest podcast and if you have enjoyed this episode, please make sure that you like, comment and subscribe. And remember, when you invest in yourself, the sky's the limit. Thanks again, thank you to PropertyCastio for bringing you this month's episodes of Inspired to Invest. The views represented on this podcast are for general information only and does not constitute investment or other professional advice or an offering of securities. The host and guests featured on Inspired to Invest make no representations as to the performance of any particular investment. Should you decide to make an investment, you are responsible for conducting your own review and analysis. It is recommended that you obtain independent legal accounting and tax advice from licensed professionals.